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2022-12-31-accounts

OXFORD THEATRE GUILD

REGISTERED CHARITY NO. 294056

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2022

KING LOOSE & CO ACCOUNTANTS

ST JOHN'S HOUSE 5 SOUTH PARADE SUMMERTOWN OXFORD OX2 7JL

OXFORD THEATRE GUILD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2022

CONTENTS

Page

1

2

3

4

10

Annual Report of the Trustees

Independent Examiner’s Report

Statement of Financial Activities (Income and Expenditure Account)

Balance Sheet

Notes to the Financial Statements

Schedule of Productions and Events

1.

OXFORD THEATRE GUILD

ANNUAL REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2022

The trustees present their annual report and financial statements of the charity for the year ended 31[st] December 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s constitution, the Charities Act 2011, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland – Charities SORP (FRS 102).

Legal and administrative information

K Saffin President, non-executive

The trustees who served during the year were as follows:

T Eyres Chair (continuing)
R Readshaw Vice Chair (continuing)
M Zumack Secretary (continuing)
D Long Treasurer (continuing)
J Marsden (to Apr 2022)
D Hargreaves (continuing)
E Smith (continuing)
S Tavener (to Apr 2022)
A Brinkman-Young (to Apr 2022)
F Yerbury-Hodgson (to Apr 2022)
K Morris (co-opted May 2022)
S Billington (co-opted June 2022)

There is no Chief Executive Officer. All Trustees participate in the management of the Charity.

The charity is governed by a Trust Deed dated 21[st] April 1986 and is registered with the Charity Commission, No. 294056.

The charity's bankers are HSBC Bank plc, although certain balances are held in a COIF deposit account.

The charity's independent examiner is Mrs H C Fanthome of Messrs King Loose & Co, St John's House, 5 South Parade, Summertown, Oxford, OX2 7JL.

Objects, organisation and activities, and public benefit

The charity is established to promote the advancement and improvement of general education in relation to all aspects of the art of drama and the development of public appreciation of such art, and to promote such other charitable purposes as the executive committee shall determine. In reviewing the Charity’s ongoing objects and activities, the Trustees have considered the guidance on public benefit contained in the Charity Commission guidelines, and view the Charity’s activities to be fully in accordance therewith.

The trustees meet frequently to discuss the Guild's affairs, the planning of productions and the making of grants, etc. There are no paid employees.

1(a)

OXFORD THEATRE GUILD

ANNUAL REPORT

FOR THE YEAR ENDED 31[ST] DECEMBER 2022

Review of progress and achievements

A schedule of productions and activities is included at page 10 to these financial statements. After the exceptional difficulties of running a drama society throughout 2020 and 2021 as a result of Covid and its aftermath, 2022 saw Oxford Theatre Guild return to a more normal pattern of operation. That is to say, it put on two major productions, one in the Oxford Playhouse and one outdoors in the University Parks in the summer. It also produced an innovative play in the smaller venue of the Old Fire Station, as well as 2 one-act plays for presentation at drama festivals in towns outside Oxford. Thus, plenty of opportunities for participation, both on the creative and technical sides, were offered to our members, especially as the two major productions required large casts. Producing a play at the Playhouse is always quite high risk, because of the costs involved in hiring the venue, and this year audience numbers did not meet expectations, which resulted in a significant loss. This was more than compensated for by a hugely successful summer production, when several performances were sold out. That also covered the slight losses on the smaller productions so that overall our activities for the year made a respectable profit.

Future Plans

The charity plans to continue with its active programme of theatrical productions and training workshops to promote the advancement, and improvement, of general education in relation to all aspects of the art of drama and the development of public appreciation of such art. To this end we plan to stage productions in a variety of venues in Oxford in 2023 and to host workshops providing education and training on practical aspects of theatre when these become possible again.

Trustees appointment and training

Trustees are elected or appointed on an annual basis, with the annual general meeting being held in April.

Induction and training of new Trustees is informal, mainly covered by word of mouth and attendance at meetings where policy decisions are taken, and matters of concern discussed. There is no specific training policy. New Trustees are asked to sign the Charity Commission Declaration of Eligibility and referred to Charity Commission Guidance for Trustees on The Charity Commission Website.

Finances and reserves policy

The attached financial statements show the current state of the finances which the trustees consider to be sound.

There have been no significant events that have impacted on either the financial performance of the charity during the year, nor its financial position at the end of the year.

The balance shown on unrestricted income funds amounted to £55,228. It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to approximately twelve months unrestricted expenditure. This provides sufficient funds to cover the ongoing provision of facilities, together with the associated support and administration costs, thereby ensuring the continuity of the facilities and the support for productions as they arise from time to time. At 31[st] December 2022, reserves were at approximately the optimum level under this requirement, but the situation remains constantly monitored by the trustees.

Investment policy

Investments are held in short to medium term COIF Deposit Funds in order to provide flexibility and ease of access whilst, at the same time, maintaining the purchasing power of the monies until they are required.

i￿) Y￿1

2.

OXFORD THEATRE GUILD

INDEPENDENT EXAMINER’S REPORT

FOR THE YEAR ENDED 31[ST] DECEMBER 2022

I report on the accounts of the charity for the year ended 31[st] December 2022, which are set out on pages 3 to 10.

Respective responsibilities of the trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under Section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:-

Basis of independent examiner’s report

My examination was carried out in accordance with the general directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity, and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

have not been met; or

King Loose & Co St John's House …………………………………… 5 South Parade Mrs H C Fanthome FCA Summertown Oxford OX2 7JL Dated: ……………………………

3.

OXFORD THEATRE GUILD

STATEMENT OF FINANCIAL ACTIVITIES (GENERAL PURPOSES FUND)

FOR THE YEAR ENDED 31[ST] DECEMBER 2022

Note
Income and endowments from
Other trading activities
Subscriptions
Proceeds from productions, workshops and events
Hire of equipment and scenery
Donations and legacies
Donations received
Investment income
Interest received
Total income and endowments
Expenditure on
Charitable activities
Cost of productions and events
2
Donations and grant support given
3
Costs incurred in furtherance of the
Charity’s activities
4
Total expenditure
Net income/ (expenditure) for the year
before investment (loss)
Investment (loss)
Net movement in funds
Total funds brought forward
Total funds carried forward		 Unrestricted Funds/Total Funds
2022
2021
£
£
1,041
1,100
50,569
24,832
59
392
5,173
2,258
-
1
_
_
56,842
28,583
======
======
41,459
24,935
-
250
3,411
13,400
_
_
44,870
38,585
======
======
11,972
(10,002)
(4,459)
(1,567)
_
_
7,513
(11,569)
47,715
59,284
_
_
55,228
47,715
======
======

There were no other recognised gains or losses in respect of 2022 or 2021, other than those reflected in the statement of financial activities.

The notes on pages 5 to 9 form part of these accounts.

OXFORD THEATRE GUILD BALANCE SHEET A AT 31- DELEMBER 2022 2022 2021 Tangtble asse Investments 1.178 1,173 37,(Y)7 27.637 rrent assets Debtors and Prepaid expenses Cash at bank and in hond 2,452 25.166 1.202 11,693 27,618 12.895 due within one year 1205 3.450 Net current assets 26,413 9,445 Total &wets less current Mabllliles 55,228 47,715 Unrestrictrd funds 55,228 47.715 Tho8e aceounts were approved by the tru5teos on .. .. 2023 D Hargreaves D IA)Dg Treasu The notes on pages 5 to 9 fonn part of these accounts.

5.

OXFORD THEATRE GUILD

NOTES FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2022

1. Accounting policies

(a) General Information

These financial statements have been presented in Pound Sterling as this is the currency of the primary economic environment in which the Charity operates.

(b) Basis of preparation

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland – Charities SORP (FRS 102); and the Charities Act 2011.

The trust constitutes a public benefit entity as defined by FRS 102.

The charity has taken advantage of the exemption to prepare a cash flow statement, as contained in Financial Reporting Standard 1, on the grounds that it is a small charity.

(c)

Activities

The financial statements include the results of the charity's operations as described in the trustees’ annual report.

(d) Income recognition

Income of all kinds is accounted for when receivable, i.e. in the period in which the charity is entitled to receipt, it is probable that the income will be received and the amount of income receivable can be measured reliably.

No permanent endowments have been received in the period.

(e)

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be reliably measured.

Expenditure is included on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Expenditures directly related to theatrical productions, the Charity’s principal activity, are separately identified.

With the exception of grants and donations made, all other costs are support costs in relation to this same activity.

(f) Grants and donations payable

Grants and donations payable are payments made to third parties in the furtherance of the charity’s objects. In the case of unconditional grant offers, these are accrued once the recipient has been notified of the award. Conditional grants are only accrued when the conditions have been fulfilled and the recipient notified.

No multi-year grants are made.

6.

OXFORD THEATRE GUILD

NOTES FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2022

1. Accounting policies cont’d

(g) Value added tax

Value added tax is not recoverable by the Charity, and as such is included in the relevant costs in the statement of financial activities.

(h) Depreciation

Plant and equipment is initially recognised at cost, which is the purchase price plus any directly attributable costs. Subsequently, plant and equipment is measured at cost less accumulated depreciation and impairment losses.

Depreciation is provided on assets to write off their cost over their estimated useful lives generally on a reducing balance basis. The rates currently used are as follows:

Lighting and general equipment - 25% per annum Office equipment - 10% per annum Chairs/blankets for summer productions - 10% per annum Storage facility - 20% per annum (straight line basis)

(i) Investment Gains and Losses

Gains and losses on disposal or revaluation of investments are reflected in the statement of financial activities.

(j) Financial Assets – Classified as Basic Financial Instruments

(k) Fund accounting

Unrestricted funds comprise those funds which the trustees are free to use in accordance with the objects of the charity, as defined in the constitution.

All of the charity’s assets are currently represented by unrestricted funds.

(l)

Volunteers

The value of services provided by volunteers is not incorporated into these financial statements.

7.

OXFORD THEATRE GUILD

NOTES FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2022

(m) Donated services

Where services are provided to the charity as a donation that normally would be purchased from suppliers, this contribution is included in the financial statements at an estimate based on the value of the contribution to the charity.

(n) Going Concern

The financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the trustees have carefully considered these risks, including an assessment of uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements.

The trustees have concluded that the going concern basis remains appropriate.

2. Costs of Productions and Events

Costs of Productions and Events
Unrestricted Funds
2022 2021
£ £
Direct Production and events expenses 41,459 24,935
====== ======

3.

Grants/donations, etc.

Grants and donations were made during the period as follows:-

Trinity College
_
=		 Unrestricted Funds
2022
2021
£
£
-
250
_
__
-
250
====
=====

8.

OXFORD THEATRE GUILD

NOTES FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2022

4. Costs incurred in furtherance of the Charity’s activities

Unrestricted Funds Unrestricted Funds
2022 2021
£ £
Insurance 1,326 1,326
Equipment maintenance 65 123
Depreciation of equipment 274 350
Independent examiner’s fees 1,200 1,440
Website expenses 373 179
Sundry expenses 111 294
Bank charges 62 -
Burcot clearance expenses - 5,404
Set & Equipment storage costs - 4,284
_ _
3,411 13,400
====== =====

5. Fixed assets Tangible assets

6. Lighting
and general
Office
equipment
equipment
£
£
Net book value
at 01/01/22
968
120
Net additions in year
279
-
Depreciation for year
(245)
(12)
_
_

Net book value
at 31/12/22
1,002
108
======
======
Investments
6,161.58 accumulation
units – COIF Charities Ethical Investment Fund		 Storage
facility
£
36
-
(12)
_
24
======		 Playhouse/
summer
production
items
Total
£
£
49
1,173
-
279
(5)
(274)
_
_
44
1,178
======
======
2022
2021
£
£
27,637
37,097
======
======
_

The funds were held in a COIF Charities Fixed Interest Fund at 31/12/21. On 21/04/22 they were moved to a COIF Charities Ethical Investment Fund, where they remained at 31/12/22.

9.

OXFORD THEATRE GUILD

NOTES FORMING PART OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2022

7. Cash at bank and in hand
2022
2021
£
£
Bank account
20,666
11,693
COIF deposit account
4,500
-
_
_
25,166
11,693
======
======

8. Trustees’ Remuneration and Expenses

None of the Trustees, nor any person connected with them, are remunerated by the Charity. No Trustee receives expenses from the Charity, but occasional, low value, reimbursements are made where costs have been incurred on the Charity’s behalf.

9. Staff costs

The charity is administered by voluntary workers and there are, therefore, no staff costs incurred. Accordingly, no member of staff is paid more than £60,000 per annum.

10. Unrestricted Funds

All of the charity’s net assets are currently represented by unrestricted funds. This was also the situation for the 2021 year.

11. Contingent liabilities or commitments

In the opinion of the trustees, there were no contingent liabilities or legally binding commitments at 31[st] December 2022.

12. Related party transactions

There were no related party transactions in the year ended 31[st] December 2022.

10.

OXFORD THEATRE GUILD

SCHEDULE OF PRODUCTIONS AND EVENTS

FOR THE YEAR ENDED 31ST DECEMBER 2022
Productions
£
The Tempest
Gross ticket sales
30,174
Venue & ticketing costs
(6,124)
_
Net income
24,050
Other expenditure
(6,714)
_
Nicholas Nickleby
Gross ticket sales
15,316
Venue & ticketing costs
(17,931)
_
Net income
(2,615)
Other expenditure
(4,426)
_
After Edward
Gross ticket sales
4,840
Venue & ticketing costs
(3,372)
_
Net income
1,468
Other expenditure
(2,253)
_
Workshops
Income
239
Expenditure
(639)
_
Net income from productions and events
Reflected in the Statement of Financial Activities as:
Proceeds from productions, workshops and events
Production expenses		 2022
£
17,336
(7,041)
(785)
(400)
_
9,110
======
£
50,569
(41,459)
_
9,110
======